Money Management Executive Latest News

House Financial Services Committee Chairman Michael Oxley (R-OH) and Richard Baker (R-LA), chairman of the capital markets subcommittee, will introduce a bill on Wednesday that would strengthen the Securities and Exchange Commission’s enforcement power.

Content offerings among institutional asset management Web sites remain limited, despite some improvements since 2001, according to a yet-to-be released kasina study.

Following last week’s two-day round-table on the hedge fund industry, Securities and Exchange Commission Chairman William Donaldson will speak to the House Financial Services Capital Markets Subcommittee Thursday about the industry’s role in the market.

At the recent Securities and Exchange Commission hedge fund hearings in Washington, the question on everyone’s mind was whether or not hedge funds would be restricted in regards to tactics they can employ to manage money, Dow Jones reports.

Deutsche Bank, headquartered in Frankfurt, Tuesday announced a partnership with seven other investment companies. The companies are: ACM, Fidelity, Franklin Templeton, Merrill Lynch, Morgan Stanley, Schroders and UBS. Deutsche Bank has been selling Invesco funds since last year.

Brinker Capital has thrown its hat into the "no downside" ring with its own offering, a series of principal protected notes that are fixed income vehicles with market participation through an equity index. In the course of developing this product, the company considered many different options, said Eddie Cohen, the managing director who headed up the project.

PFPC Trust Co., a unit of PNC Financial Services Group Inc., says it plans to make custody and securities lending the focus of its overall business strategy.

AIM Fund Services, the transfer agent of AIM Management Group, has switched from using two portals to supply financial intermediaries with customer information, to just using DST Systems’ Vision. Previously, AIM also used the fund industry-owned AdvisorCentral, but when it found that 90% of traffic to intermediaries and broker/dealers was running on Vision, the company decided to make the change.

Hedge funds gained an average of 1.86% in April, according to HedgeFund.net. But by comparison, the S&P 500 gained 8.24% in April and 4.83% since the beginning of the year. The Dow Jones Industrial Average also trounced hedge funds last month, returning 6.25% in the month and 2.39% since the beginning of the year.

Janus Capital Management is searching outside its walls for a new investment chief.